GeoPark, 17.May.2021) — GeoPark Limited announced that ongoing protests in Colombia have impacted its production. Following a new tax reform proposal, a national strike started on 28 April 2021 with protests and demonstrations in major cities of Colombia. Despite the proposal being dismissed in early May, demonstrations continued and intensified […]
Exxon Activist Wins Partial Glass Lewis Support In Board Fight
(Bloomberg, 17.May.2021) — The activist seeking to revamp the board of Exxon Mobil Corp. received a boost Monday with another prominent shareholder advisory firm recommending investors support two of its four nominees. Glass Lewis & Co. said it agreed with activist investor Engine No. 1 that Exxon’s board had failed […]
New Chinese Tax Narrows Venezuela’s Oil Export Options
(Argus, 17.May.2021) — A Chinese tax overhaul threatens to orphan up to 400,000 b/d of Venezuelan heavy sour crude that has been a lifeline for Caracas since the US imposed oil sanctions in 2019. Although Chinese companies moved away from directly lifting Venezuelan crude around August 2019, independent refiners regularly […]
Colonial Pipeline System Disruption Update
(Colonial Pipeline, 17.May.2021) — Colonial Pipeline continues to make substantial progress in safely moving other’s product throughout our pipeline system. We can now report that we are transporting refined products (gasoline, diesel and jet fuel) at normal levels and are fully operational. It will take some time for the fuel […]
Equinor And Sonatrach Ink MOU
(Equinor, 17.May.2021) — On 17 May 2021 Equinor and Sonatrach signed a memorandum of understanding (MoU) to examine cooperation within oil and gas exploration and production in Algeria and internationally. The signing of the MoU strengthens the existing partnership between Equinor and Sonatrach. The MoU also includes cooperation within greenhouse […]
Maersk Divesting Jack-ups Guardian And Gallant
(Maersk, 17.May.2021) — Maersk Drilling has sold the jack-up rig Maersk Guardian (now named Guardian) to New Fortress Energy, and the parties have further entered into an agreement about the sale of the jack-up rig Mærsk Gallant with anticipated closing in June 2021. The total sales price for the two […]
Saipem Inks Contracts In Saudi Arabia
(Saipem, 17.May.2021) — Saipem has been awarded the extension of two important contracts for onshore drilling activities in Saudi Arabia for a duration of 5 and 10 years, respectively, and a new contract in Colombia for a duration of 4 years. The total of orders acquired by the Onshore Drilling […]
Ecuador Indigenous Protestors Block Access To Petroecuador Oil Field
(Reuters, 15.May.2021) — An indigenous community in Ecuador’s Amazon region is blocking access to one of state oil company Petroecuador‘s main fields in a protest over compensation, prompting the company to request help from the armed forces to deliver supplies. In a statement on Saturday, Petroecuador said the protest has […]
Exxon To Restart Gas Compressor At Guyana Platform In June
(Reuters, 14.May.2021) — Exxon Mobil Corp said on Friday it will reinstall a gas compressor at its Liza Destiny platform off Guyana’s coast in June, after an equipment failure last month prompted the company to slash output. The company said in a statement that its Liza-1 project was currently producing […]
Maduro Should Be Tried for Ecocide
(Foreign Policy, 14.May.2021) — It isn’t uncommon to hear charges of “genocide” leveled at the government of Venezuelan President Nicolás Maduro due to the humanitarian disaster unfolding in his country in the last few years. But now, a growing chorus has begun to blame Venezuela’s leadership with the crime of “ecocide”—or the […]
Petrobras’s 1Q:21 Earnings Call Transcript
(Motley Fool, 14.May.2021) — Brazil’s state oil and gas company Petrobras hosted its first quarter 2021 conference call. What follows is a complete transcript of the call. Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Carla Dodsworth Albano Miller — Investor Relations Executive Manager Good morning, everyone. Welcome […]
Atlantic LNG’s Future Still Being Discussed
(Trinidad Guardian, 13.May.2021) — The future of Atlantic LNG’s operations and, more specifically, the status of Train 1 is still being discussed by stakeholders. This even though the National Gas Company of T&T Ltd (NGC) has already spent tens of million of dollars to restart the Train 1 plant. Minister […]
LatAm Briefs: Colombia Unrest, Argentina President In Europe, Pampa Webcast
(Energy Analytics Institute, 13.May.2021) — Energy briefs from the Latin America and Caribbean region including: ongoing national strike and protests in Colombia impacting fuel supply; Argentina’s President to meet with Kristalina Georgieva, head of the International Monetary Fund (IMF); and Pampa Energía S.A. hosting its 1Q:21 Webcast Colombian Protests Impacting […]
Colonial Updates On System Restart
(Colonial Pipeline, 13.May.2021) — Colonial Pipeline has continued to make substantial progress in safely restarting our pipeline system. We can now report that we have restarted our entire pipeline system and that product delivery has commenced to all markets we serve. Following this restart, it will take several days for the […]
bp And Cemex Join Up On Net-Zero Emissions
(bp, 13.May.2021) — bp and Cemex, S.A.B. de C.V. (NYSE: CX) will work together on accelerating the progress of Cemex’s 2050 ambition to deliver net-zero CO2 concrete globally. Highlights: — bp and Cemex aim to develop solutions to decarbonize the cement production process and transportation. — Cemex and bp have aligned ambitions […]
Pan American Silver Updates on the La Colorada Skarn Deposit
(Pan American Silver, 13.May.2021) — Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) provided results for 28 additional holes drilled at the La Colorada skarn deposit and an update of the project development. “Definition drilling continues to add confidence and scope to the skarn deposit, confirming wide, high-grade zones with intercepts up to 277 […]
Pan American Silver Announces Results of Annual General, Special Meeting
(Pan American Silver, 13.May.2021) — Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) reported the voting results from its annual general and special meeting of shareholders held 12 May 2021 in Vancouver, British Columbia. Each of the matters voted upon at the Meeting is described in detail in the company’s Management Information Circular dated 22 March […]
Petrobras On Record S-10 Diesel Sales
(Petrobras, 13.May.2021) — Petrobras reports that in April it registered total diesel sales of around 824,000 bpd, representing 59% growth in comparison with sales in April 2020. In the comparison with April 2019, without the impacts on demand resulting from the pandemic, there was a growth of 12%. Also in […]
LatAm Briefs: Green Hydrogen In Chile, ANP’s Green Diesel Resolution
(Energy Analytics Institute, 13.May.2021) — Energy briefs from the Latin America and Caribbean region including: Chile approving a first green hydrogen project and Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) approving a green diesel resolution. Chile Approves First Green Hydrogen Project Chile’s Environmental Commission for the Magallanes […]
Colonial Pipeline Paid Hackers Nearly $5mn In Ransom
(Bloomberg, 13.May.2021) — Colonial Pipeline Co. paid nearly $5 million to Eastern European hackers on Friday, contradicting reports earlier this week that the company had no intention of paying an extortion fee to help restore the country’s largest fuel pipeline, according to two people familiar with the transaction. The company […]
Cuban Tanker En Route To Venezuela Reports Missing Sailor At Sea
(Reuters, 12.May.2021) — A crew member aboard a Cuba-flagged oil tanker on its way from a Mexican shipyard to Venezuela was reported missing this week, according to a shipping report seen by Reuters, marking the second incident aboard the same vessel in about a year. Sailor Rafael Desiderio Martinez Alonso […]
Pampa Energía Reports 1Q:21 Results
(Pampa Energía, 12.May.2021) — Pampa Energía S.A. (NYSE: PAM; Buenos Aires Stock Exchange: PAMP), the largest independent energy integrated company in Argentina, with active participation in the country’s electricity and gas value chain, announces the results for the quarter ended on 31 March 2021. As of 1 January 2019, the company adopted US$ as […]
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YPF Reports 1Q:21 Results [PDF Downloads]
(YPF, 12.May.2021) — Argentina’s state oil entity YPF announced financial and operating results for the first quarter 2021. Details follow. MAIN HIGHLIGHTS OF THE QUARTER • Strong recovery in profitability with Adjusted EBITDA expanding by 318% sequentially – and only 9.9% below 1Q20 -, mainly backed by a fast recovery […]
Invenergy, BW LNG Finish FSRU Financing
(Invenergy, 12.May.2021) — Global sustainable energy developer Invenergy and global liquefied natural gas (LNG) solutions provider BW LNG announced that they recently closed a $128.3mn financial package with IDB Invest to finance the special-built floating storage and regasification unit (FSRU) component of the Energía del Pacífico (EDP) LNG-to-power project in El Salvador. The financial package […]
Solaris Reveals Inclusion In MSCI Canada Small Cap Index
(Solaris Resources, 12.May.2021) — Solaris Resources Inc. (TSX: SLS) (OTCQB: SLSSF) will be added to the MSCI Canada Small Cap Index, effective following the close of trading on 27 May 2021. MSCI Inc. announced this addition on 11 May 2021, following results of their semi-annual index review. The MSCI Canada Small Cap Index is an equity index […]
YPF CEO Sergio Affronti On 1Q:21 Results: Transcript
(Seeking Alpha, 12.May.2021) — Argentina’s state entity YPF SA (NYSE:YPF) hosted a 1Q:21 earnings conference call with analysts on 12 May 2021. What follows is the transcript from the call. Company Participants Santiago Wesenack – IR Manager Sergio Affronti – CEO Alejandro Lew – CFO Conference Call Participants Guilherme Levy […]
Ecopetrol Names New Exploration VP
(Ecopetrol, 11.May.2021) — Ecopetrol S.A. (BVC: ECOPETROL;NYSE: EC) announces that Jorge Arturo Calvache, Vice-President of Exploration has decided to retire as of 1 June 2021. The company acknowledges and thanks Jorge for his leadership and contribution managing Ecopetrol’s Exploration business during the past two years. In his replacement, Elsa Jeanneth […]
NGC And TRINGEN Ink Gas Sales Deal
(NGC, 11.May.2021) — The National Gas Company of Trinidad and Tobago Limited (NGC) signed a Gas Sales Agreement with Trinidad Nitrogen Company Limited (TRINGEN). TRINGEN, with two (2) ammonia plants and gas turbine power generation, is 51% owned by National Enterprises Limited (NEL) and49% by Yara Caribbean (2002) Ltd. It […]
BHP Awards McDermott FEED Contract for Trion FPU
(McDermott, 11.May.2021) — McDermott International, Ltd has been selected by BHP Petróleo Operaciones de México, S. De R.L. De C.V., in partnership with Pemex, to provide Front-End Engineering Design (FEED) of a Semi-submersible Floating Production Unit (FPU) for the Trion Project in the Gulf of Mexico. The FPU will be designed […]
Shell Reports Deep-Water Find At Leopard Prospect
(Shell, 11.May.2021) — Shell Offshore Inc., a subsidiary of Royal Dutch Shell plc, announced a significant discovery at the Leopard prospect in the deep-water U.S. Gulf of Mexico (GoM). The Leopard well encountered more than 600 feet (183 meters) net oil pay at multiple levels. Evaluation is ongoing to further define development options. “Leopard […]
Petrobras On Deal With Companhia De Eletricidade Do Amapá
(Petrobras, 11.May.2021) — Petrobras informs that it has signed with the Companhia de Eletricidade do Amapá (CEA), a legal agreement for the termination of litigation and credit recovery by Petrobras, recognized in the amount of R$314mn. The agreement establishes the payment to Petrobras of R$132.6mn unconditionally, to be settled in […]
Colombia’s Oil And Gas Production Down Sequentially In March 2021
(Energy Analytics Institute, 11.May.2021) — Colombia’s production of crude oil and natural gas moved downwards in March 2021 compared to the prior month, according to details provided by the country’s Mines and Energy Ministry. Gas Production Colombia’s commercialized gas production was 1.091 million cubic feet per day (MMcf/d) in March […]
Petrobras On TermoCamaçari Thermal Power Plant
(Petrobras, 11.May.2021) — Petrobras, following up on the release disclosed on 16 March 2021, informs that the negotiation with the company Proquigel Química S.A. for the leasing of the TermoCamaçari Thermoelectric Plant (UTE TermoCamaçari), located in the state of Bahia, has ended unsuccessfully. Thus, the company will begin the decommissioning […]
Energizer Reports Fiscal 2Q:21 Results
(Energizer Holdings, 10.May.2021) — Energizer Holdings, Inc. (NYSE: ENR) announced results for the second fiscal quarter, which ended 31 March 2021. “Building on the momentum of our first quarter, we delivered strong performance across all categories and geographies resulting in 12.7% organic sales growth for the second quarter,” said Mark LaVigne, Chief Executive […]
Colonial Pipeline On System Disruption
(Colonial Pipeline, 10.May.2021) — Colonial Pipeline is continuing to work in partnership with third-party cybersecurity experts, law enforcement, and other federal agencies to restore pipeline operations quickly and safely. While this situation remains fluid and continues to evolve, the Colonial operations team is executing a plan that involves an incremental process […]
Sapphire Gas Solutions Enters Renewable Natural Gas Market
(Sapphire Gas Solutions, 10.May.2021) — Sapphire Gas Solutions, a Conroe, TX based LNG and CNG solutions service company, was recently awarded the transportation and logistics contracts for seven farm based renewable natural gas operations in central California. “Our entry into the RNG market, as a solutions provider, is a huge step for Sapphire. […]
Venezuela Needs $58bn To Restore Oil Output To 1998 Levels-Document
(Reuters, 10.May.2021) — Venezuelan state oil company PDVSA would need $58 billion in investment to revive its crude production to the levels of 1998 before ex-President Hugo Chavez came to power, equivalent to 3.4 million barrels per day (bpd), a document seen by Reuters shows. In the February 2021 document […]
Petrobras To Host 1Q:21 Results Webcast
(Energy Analytics Institute, 10.May.2021) — Petrobras will host two webcasts on 14 May 2021 to discuss its first quarter 2021 results. The first will be in Portuguese and the second in English, the company announced 10 May 2021 in an official statement. The state oil giant will use the Microsoft […]
Petrobras Divests Stake In Rabo Branco Field In Sergipe
(Petrobras, 10.May.2021) — Petrobras, following up on the release disclosed on 11 December 2020, signed with Petrom Produção de Petróleo & Gás Ltda. a contract for the sale of its entire 50% stake in the onshore field of Rabo Branco, located in the Sergipe-Alagoas Basin, in the State of Sergipe. […]
Petrobras Inks Deal For 7th Búzios Unit
(Petrobras, 10.May.2021) — Petrobras signed a contract with Keppel Shipyard Limited to build the P-78, the seventh unit to be installed in the Búzios field, in the Santos Basin pre-salt area. With processing capacity of 180 thousand barrels of oil per day and 7.2 million cubic meters of gas per […]
Go Solar Group Releases Nevada Periodic Table of Solar Elements
(Go Solar Group, 10.May.2021) — Go Solar Group, a residential solar installer based in Reno Nevada; and Albuquerque, New Mexico, has published a unique tool to help Nevada homeowners interested in solar learn about solar modules as a complex product with its “Nevada Periodic Table of Solar Elements.” The table, which looks like a […]
Brazil LNG Demand Heading For Record Year
(Argus, 10.May.2021) — Brazil is on track to import a record volume of LNG this year because of persistent dry weather coupled with the commissioning of new LNG-to-power projects. As arid conditions dragged on into April, the electricity sector monitoring committee (CMSE) cleared the dispatch of thermoelectric plants and electricity […]
Colombia Production Down 2% On National Strike, Protests, Road Blockages
(Energy Analytics Institute, 10.May.2021) — An ongoing national strike, peaceful protests, social unrest and road blockages in Colombia have taken a toll on the country’s petroleum sector, including crude oil production and fuel consumption, in the first week on May 2021. Eleven Colombian departments are at high risk of gasoline […]
ExxonMobil Submits Application For Yellowtail Development Project
(Kaieteur News, 7.May.2021) — ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), has submitted an application to the Environmental Protection Agency (EPA) to undertake its fourth oil project, the Yellowtail Development Project, within the Stabroek Block offshore Guyana. According to the EPA, the proposed project will be implemented in […]
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Citgo Reports FY:20 Results [PDF Download]
(Citgo, 7.May.2021) — Despite the unprecedented challenge COVID-19 presented for refiners, CITGO Petroleum Corporation continued to make strong progress in optimizing operational performance, aggressively managing costs and building on strategic initiatives to strengthen corporate governance, compliance and business ethics. CITGO results for FY 2020 were heavily affected by ongoing pandemic-driven […]
Magna Gold On Final Payments For The San Francisco Mine Purchase
(Magna Gold, 7.May.2021) — Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) announced payment of $5mn to Argonaut Gold Inc. in relation to the acquisition of the San Francisco Mine. Pursuant to a definitive share purchase agreement dated 5 March 2020, as amended 24 April 2020, between Mexican subsidiaries of Argonaut and Magna for […]
AES Achieves Key Strategic Milestones
(AES, 6.May.2021) — AES Corporation (NYSE: AES) reported financial results for the quarter ended 31 March 2021. Strategic Accomplishments Signed 1,088 MW of new PPAs for renewables and energy storage, including a 10-year supply agreement with Google for 500 MW of 24/7 carbon-free energy in Virginia Secured a 20-year agreement for 34 TBTU […]
Total Starts Production From Zinia Phase 2
(Total, 6.May.2021) — Total (Paris: FP) (LSE: TTA) (NYSE: TOT), operator of Block 17 in Angola, together with the Angolan National Oil, Gas and Biofuels Agency, announce the start of production from Zinia Phase 2 short-cycle project, connected to existing Pazflor’s FPSO (Floating Production, Storage and Offloading unit). The project […]
Atlas Executes 2nd Finance Project In Brazil
(Atlas Renewable Energy, 6.May.2021) — Atlas Renewable Energy obtained a $150mn loan from IDB Invest, a member of IDB Group, and from DNB Bank ASA (the largest financial services group in Norway) to finance the construction of its Lar do Sol – Casablanca project, a 359MWp solar project to be […]
PT Pertamina Shipping Subholding Company Revealed
(PT Pertamina, 6.May.2021) — State-Owned Enterprises (SOE) Minister, Erick Thohir, unveils PT Pertamina (Persero)‘s first shipping subholding company, PT Pertamina International Shipping (PT PIS). Minister Thohir made the announcement during an inauguration ceremony on Wednesday, May 5, 2021. The Minister stated that the inauguration was the first big step for PT PIS […]